XML 122 R48.htm IDEA: XBRL DOCUMENT v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Preferred Stock and Dividends Paid Per Share The table below summarizes Customers’ issuances of preferred stock that remain outstanding at December 31, 2024 and 2023 and the dividends paid per share.
(amounts in thousands except share and per share data)Shares at December 31,Carrying value at December 31,
Initial Fixed Rate
Date at which dividend rate became floating and earliest redemption date
Floating rate of Three-Month SOFR (1) Plus:
Dividend Paid Per Share in 2024
Fixed-to-floating rate:Issue Date2024202320242023
Series EApril 28, 20162,300,0002,300,000$55,593 $55,593 6.45 %June 15, 20215.140 %$2.71 
Series FSeptember 16, 20163,400,0003,400,00082,201 82,201 6.00 %December 15, 20214.762 %$2.62 
Totals5,700,0005,700,000$137,794 $137,794 
(1)    Pursuant to the Adjustable Interest Rate (LIBOR) Act enacted by Congress on March 15, 2022, Customers substituted three-month term SOFR plus a tenor spread adjustment of 26.161 basis points for three-month LIBOR as the benchmark reference rate on Series E and F Preferred Stock, plus 5.14% and 4.762%, respectively, beginning with dividends declared on October 25, 2023.